Storage providers typically require you to insure your belongings before storing them. They often provide the option to purchase insurance during the process of reserving a storage unit. Depending on the provider, the cost can be as low as $6 per month. However, it’s more likely that you will have to choose from insurance starting at around $12 per month for $3,000 worth of coverage. The highest storage insurance available is typically $15,000 worth of coverage at about $24 per month.
If you don’t choose to purchase insurance while reserving your unit, you will have to show proof of insurance to the storage unit provider before you move in. In some cases, you can use your renters or homeowners insurance as storage insurance. However, be sure to check your policy to see what kind of limitations are listed.
Look for “off-property” or “off-site” insurance clauses. Insurance coverage for belongings outside your home may be significantly less than the value of your policy. For example, if your insurance policy covers up to $75,000 worth of damages, the policy may only cover $7,500 worth of damages to belongings in storage.